What happens if bitcoin price falls below the cost of mining it? - page 7.

rizkyhiw

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

I think yes bitcoin will recover back but I do not know when it must have happened.
Bitcoin is in like a rare item, the rarer the goods and the more people who need the goods then the price will be more expensive and expensive constantly. Well you do not have to worry, or panic. If you have some bitcoin should be stored up to several years ahead will be very good for yourself.

giarised

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Quote from: cloningjeans0 on March 18, 2018, 12:24:48 AM

That would be an awkward situation hope the day doesnt comes specially when i am a miner myself :")

No doubt in it. Definitely it would be a dark time, a dark era. But what to do when such scenario comes because you don’t have control over bitcoins world. So unfortunately if such conditions are observed what to do? This is important. As far as I know, you should be waiting. Don’t do anything else. Don’t see the market trends, don’t get tension. Just wait and prices would be increasing slowly and gradually.

craZyLovE0916

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The price of bitcoin does not affect the mining sector of the bitcoin market. The one thing that drives bitcoin mining and always has has been the earnings which the miner takes out of it. If the bitcoin miner is mining a good number of bitcoins then he will continue mining. Although now I do not believe that the price would fall below the cost of mining it.

hygroscopicgymnasiumd

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Nothing can be more profittable than fiats earnings. these btcs are one day and blind currencies what much can we expect from it?

LZBN

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

You know it is very philosophic question, because when the mining become unprofitable, difficult of network will fall down, and it will come profitable again.

andreijoaquin

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

Bitcoin will surely recover, all we need is to be patience and keep holding our bitcoin. The market demands respond positively so I really thinks that bitcoin value will going to have a good future as well as value, right now what we are just experiencing is a normal fluctuations, bit sooner bitcoin will reach another all time high record in its price.

carlisle1

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Campaign Management?"Hhampuz" is the Man

Quote from: diva.man on March 01, 2018, 10:26:55 AM

Mining is a complete market activity, and mining costs are dynamic. As long as bitcoin is valuable, there are always miners digging.

When BTC broke the cost of mining, some of the mining unions withdrew, resulting in a decline in the force, the difficulty of mining, and the decline in mining costs. The miners who persisted could survive.

we all know that theres no permanent things happening here,just like the mining if ever it cost morethan bitcoin price,many of miners will exit but ofcourse they will just standby untill the price recovers.thats not easy for them to totally exit since the price of mining equipments and tools are expensive enough or them to wait still

MMA

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Quote from: btctalk123 on March 18, 2018, 03:55:45 PM

Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?
I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

That is never gonna happen again, because it will be almost worthless.. so no, just lose your hopes because it is not going to happen again.

Anyway, bitcoin is not going to die, and it doesn't matter what (if this is what you are trying to ask, of course

It will be a serious issue no doubt but i also think that it is not going to happen, because the minor now finding the more cheapest source for mining bitcoin, so if even bitcoin price will fell down much more it will still be profitable to min bitcoin, therefore i do not think that it will effect the minor too much but will just reduce their income, but still they will continue mining bitcoin.

safeend6

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Dont know about it because i am a newbie and just started to earn btcs by the aid of small aids

btctalk123

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?
I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

That is never gonna happen again, because it will be almost worthless.. so no, just lose your hopes because it is not going to happen again.

Anyway, bitcoin is not going to die, and it doesn't matter what (if this is what you are trying to ask, of course

furrystocks

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I think then also mining will continue or there will be a crisis of btcs which then can be never recovered nor miners can profit ever

cloningjeans0

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That would be an awkward situation hope the day doesnt comes specially when i am a miner myself :")

diva.man

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Mining is a complete market activity, and mining costs are dynamic. As long as bitcoin is valuable, there are always miners digging.

When BTC broke the cost of mining, some of the mining unions withdrew, resulting in a decline in the force, the difficulty of mining, and the decline in mining costs. The miners who persisted could survive.

Basmic

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The price of coin mining will not be lower than the cost price. After profitability will decline a portion of miners will switch to mining other coins. This will reduce the complexity of the network and the remaining miners will increase their profitability. The blockchain system is self-regulating and therefore there will always be people who will have income from transaction confirmation.

pogiparin

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Then a lot of miners would opt out of their mining business and maybe go to ethereum or z cash

JerryJam

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The profitability of mining depends on the price of bitcoin. The higher the rate, the more profitable bitcoin mining. To improve the efficiency of mining will need to wait for price increases or get rid of competitors. In this case, the market will remain large players who have invested a lot of money in bitcoin farms.Otherwise, mining will not make sense. But I think this will not happen because the price of bitcoin will increase over time.

dothebeats

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Cashback 15%

Some miners will simply look for other alternatives in the mean time that could bring them profits. Difficulty will drop, cost of mining will soon drop so in the end there'd still be people mining it all through the way, it's just that some miners would probably try to maximize their profit by switching to other profitable coins out there by using their hardware. And in the current state of things, it's highly improbable for the bitcoin prices to drop below the mining cost since a lot of people are already involved. There'd always be a demand in the market no matter what.

jaylhynne018

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

it gonna be a big problem so i should think to that will cannot never be happen so hoping that to never come out with us!

budakjawa

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Quote from: Bitcoinbelowmine on February 02, 2018, 11:28:52 PM

Would bitcoin be able to recover? Are we safe since 80% of bitcoin has already been mined?

I remember it happened once in 2011 (https://www.themarysue.com/price-bitcoin-falls-below-mining/amp/).

a very good question, seems to be seen from the current condition when the price goes down, the miners will keep bitcoin as much as they can because they are already aware of its very limited availability bitcoin and it is difficult to get bitcoin so they will still be mining bitcoin.

Kingofbitcoin12345

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Most miners are not as impatience as the new investors.. They won’t just stop and shutdown they’re system for price reason as bitcoin has always the tendency to recover in a long run.. The difficulty is parallel to numbers of miners on a particular coins and if the demand/competition is lower the higher chances to be rewarded bigger that is the constantly been the happening since before..

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